36 — Wednesday, July 18, 1990 - North Shore News .

BUSINZSS BRIEFS

THE NORTH Shore Enterprise
Development Centre is no more.
The business centre, which was set
up to help new, smali and other
North Shore businesses was forced
to close its doors at the end of
June after its funding ran out.

Anyone wishing business in-
formation should contact the
North Shore Economic Develop-
ment Centre, the North Van-
couver Chamber of Commerce or
the B.C. Enterprise Centre.

Report tabled

INTERNATIONAL BUSINESS
and Immigration Minister Elwood
Veitch recently tabled the first
annual report of the B.C. Trade
and Development Corporation in
the B.C. legislature.

“The report tells a story of a
strong government initiative that
has been well received by the
business community in all parts of
B.C.,”’ said Veitch.

“B.C. Trade is proving to be
highly successful at meeting its
mandate of promoting the export
of B.C. products and services.”’

During the 10-month period
ending March 31, 1990, B.C.
Trade reports a total of 160 pro-
jects and events that produced
direct export sales valued in the
millions of dollars.

In addition, B.C. Trade
counselled nearly 600 companies
and received more than 200,000
enquiries or visits at the Business
Information Centre.

CHIL affects
capital gains

From page 35

interest, dividends, rent — since
the beginning of 1988,” he said.

. ‘In other words, if your in-
vestment expenses, like the in-
vestment Joan interest, are greater
than your investment income, you
will build up a CNIL balance.

“This CNIL balance will affect
your ability to claim the ‘capital
gains exemption.”’

Let’s say your CNIL balance’

(that is, excess of all investment
expenses over all investment in-
come ‘since the beginning of 1988)
is $5,000. Now you sell some
stocks and make a $6,600 profit
(capital gain).

Thanks to the’ $5,000 CNIL
balance, $5,000 of your taxable
capital gain will be included as
taxable income. You can claim the
capital gains exemption against
only the remaining $1,000.

‘This happens even if you have
a CNIL balance because of rental
losses,’’ said Luongo. ‘‘In other
words, your CNIL cuts across all
investments, and is not related on-
ly to one particular type of in-
vestment. :

“You might have a CNIL
balance because of your rental
losses. But you must still apply
that CNIL balance when you
make a profit in stocks. Only then
can you claim the capital gains
exemption.”’

nee

Mike Grenby is a Vancouver-
based columnist and independent
financial adviser who will answer
your questions as space allows in
his column. Write to him c/o
North Shore News, 1139 Lonsdale
Ave., North Vancouver V7M
2H4,

Wa DOITUP
RIGHT, BC

eae

THE CANADA Employment
Centre for Students in North
Vancouver has had a busy sum-
mer sc far, according to centre
supervisor Darin Froese.

He added that the centre has
helped 850 students find jobs so
far and expects July to be an even
busier month now that high
school students have finished writ-
ing exams.

Glenn Houghton
Deep Cove Estates

Students looking for jobs can
come into the office, located at
120 Lonsdale Avenue, and talk to
a student placement officer.

eee

FORESTRY GIANT MacMillan
Bloedel topped Equity Magazine’s
best-dressed list this year in terms
of net profits with a figure of
$246.7 million on gross revenues
of $3.23 billion.

In second place was Comin.”
Ltd. with a profit of $124.6 n: -
lion, followed by the B.C. tel
Group reporting profits of $:41
million. The fourth best-dressed
balance sheet in B.C. went to
Placer Dome with profits of
$125.1 million, followed by Flet-
cher Challenge Canada reporting a
$120 million profit.

Vancouver-based Woodward's
topped Equity’s worst-dressed
balance sheet list with a reported

loss of $41.9 million, followed
closely behind by Moli Energy
with a $40.6 million loss. -

Total Energotd placed third
with $22.9 miilion in losses,
followed by Westar Mining with
$15.6 million in losses, while
Quadra Logic Technologies
rounded oui the top five worst-
dressed fist with losses of $8.6
million.

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